**Matching Data with CRE Investor Preferences**
Research-driven insights can provide valuable guidance when determining where and what to develop in commercial real estate (CRE), in addition to shaping fundraising strategies. However, according to real estate investment platform Agora, there remains a distinct disconnect: “What investors say and what the market does are not always the same.”
To explore this gap, Agora recently released its latest report, “CRE in 2025: A Data-Driven Check on Industry Sentiment.” The report juxtaposes survey responses from 200 U.S. CRE professionals with actual market data from the first and second quarters of 2025.
Here are some of the key findings from the report:
**Southeast Sees Strong Development Activity**
While 28% of surveyed investors highlighted the Southeast as their primary investment focus, Agora’s market data reflected even stronger real-world activity. The Southeast region accounted for 42.7% of all projects in Q1 and an even more dominant 66.2% in Q2. The Southwest ranked second in terms of project share, while the Northeast followed with the second-highest level of capital inflows.
**Multifamily Dominates Preferences and Activity**
Multifamily emerged as the top asset class among respondents, with 51% naming it their preferred investment type. Market data backed this up to a degree, showing multifamily projects comprised 30% of all developments across both quarters and an impressive 67.6% share in Q1 alone. Interestingly, mixed-use was selected by 33% of participants, yet actual development activity for this asset class was minimal—just 0.7% of projects during the first half of the year.
**Southwest Gains Momentum in Capital Raising**
The Southwest region showed growing optimism when it came to raising capital. Twenty-eight percent of respondents there indicated facing less difficulty in securing funds, amid reports of improving conditions. Agora data supports this sentiment: capital inflows in the Southwest increased by 10.6% from 2024 to 2025. Although 59% of investors in the Northeast said they found it harder to raise capital, the region still managed to grow its fundraising total by 3.7% year-over-year.
These findings reveal a complex but telling picture: While investor expectations and preferences offer a glimpse into future intentions, actual market metrics often diverge, shaped by evolving conditions and regional performance dynamics.
This analysis serves as a timely reminder that in CRE, aligning investor sentiment with hard data provides a more complete picture—one that can significantly impact strategic decision-making.
